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What you need to know on Wall Street today

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What you need to know on Wall Street today *Welcome to Finance Insider, Business Insider's summary of the top stories of the past 24 hours. Sign up here to get the best of Business Insider delivered direct to your inbox.*

*Amazon's playbook for upending healthcare just got a lot clearer *

After more than a year of speculation, Amazon just gave a clear indication that it's interested in getting into the pharmacy business.

On Thursday, it acquired PillPack, a small startup that mails prescriptions to people that take multiple medications. The news sent a whole host of pharmacy and drug wholesaler stocks tumbling.

For Amazon, that clears up a couple of hurdles that had previously hindered its ability to get into the pharmacy market. PillPack's physical pharmacy is located in Manchester, New Hampshire, and the startup can ship medication anywhere in the US with the exceptions of Hawaii and Puerto Rico. Amazon had applied for some wholesale pharmacy licenses in the past but those ambitions hit a snag in December 2017 when its Maine license had been canceled.

More here. 

*Venture capitalists are still trying to figure out their crypto strategy*

Andreessen Horowitz launched a $300 million specialist crypto fund this week, five years after first investing in the space through Coinbase. The venture-capital firm's long interest in crypto and sizable new fund make it a trailblazer — most VCs have largely ignored cryptocurrencies and are now struggling to play catch-up.

"If you look back a year ago at where we were, it really wasn't" on many venture capitalists' radars, Michael Jackson, a partner at the venture-capital firm Mangrove, told Business Insider.

Now the industry is reconsidering its position after an explosion of activity toward the end of 2017. Bitcoin rose over 1,000% against the dollar in 2017, with other cryptocurrencies recording similarly eye-catching returns. The market has more than halved since the start of 2018, but there is a sense that the technology is not going away.

*Some of the biggest names in Silicon Valley have been checking out a hot VR startup*

Sandbox VR, a Hong Kong-based virtual reality startup that licenses its technology to IMAX movie theaters, is raising a significant new round of funding, Business Insider has learned.

Andreessen Horowitz is in talks to invest in the round, according to two sources familiar with the matter. One of the firm's general partners, Andrew Chen, may be spearheading the investment, according to one person familiar with the talks.

*Real-life robot marks BlackRock's latest foray into automation*

Count this as another sign that automation is sweeping BlackRock, the largest money manager in the world.

For six months, a robot was meandering the New York City headquarters of the $6 trillion dollar asset manager, which notably made a big bet last year to rely more on algorithms over humans to make decisions on what stocks to buy and sell.

The robot bot, dubbed BLK Bot, doesn't appear to be much interested in finance. It's made by Knightscope, a company which makes crime-fighting robots that are used to patrol parking lots, sports arenas, and tech company campuses. 

*In markets news*

· Even the world's most successful investment firms pay Rob Arnott for advice — here's where he says you should be putting your money

Join the conversation about this story »

NOW WATCH: This impact investor says stop trying to help people without including them in the conversation Reported by Business Insider 4 hours ago.

Watch: Cathay Pacific's latest Hong Kong lounge, The Deck

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Watch: Cathay Pacific's latest Hong Kong lounge, The Deck The Deck is Cathay Pacific's latest addition to its range of premium spaces at its Hong Kong hub. Here's what's on offer. Where: Level 7, (that's a on the second floor of the departure level) Terminal 1 near Gate 16. It's about... Reported by New Zealand Herald 4 hours ago.

Data Room Open for Auction of Unique Modular Tool System Patented Technology

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Access the data room for the first complete automatic hand-to-work locking and quick release modular tool system technologies available from Ocean Tomo Auctions, available at no reserve auction.

CHICAGO (PRWEB) June 28, 2018

Ocean Tomo Transactions and Ocean Tomo China announce the opening of the data room for the auction of the first complete automatic hand-to-work locking and quick release modular tool system technologies available from Ocean Tomo Auctions, available at no reserve auction.

Using powerful automatic pin locking technology with manual quick release at every tool connection improves productivity and enhances safety for all mechanics’ hand tools and power tools, available at no reserve auction. The portfolio of assets available from Ocean Tomo Auctions, in a private, no-reserve auction, includes worldwide patents, complete production engineering drawings and specifications as well as registered trademarks and trade names related to all automatic hand-to-work pin locking and quick release mechanics’ hand and power tools.

The technologies originated with Peter M. Roberts, inventor of the Quick Release for Ratchet Wrenches, who after a 20-year dispute over the wrench technology settled out of court with Sears for an undisclosed amount. Mr. Roberts’ and other inventors’ locking and quick release tool system technologies offered include a powerful diagonal pin locking mechanism.    The technologies provide the benefit of automatic hand-to-work locking of all mechanics’ hand and power tools and combinations (including standard sockets) along with quick release at every tool connection (not just ratchets). The result is a modular tool system that provides valuable productivity and safety advantages to mechanics’ hand tools and power tools.

According to the inventors, “the annual global market for hand and power tools stands at $51 billion USD, a substantial portion of which is mechanics’ hand and power tools. No comparable hand-to-work technology exists in the market with a tool system competitive to the technology offered in this auction.” The portfolio, comprised of more than 30 issued patents and patent applications related to the hand-to-work system technologies, covers various aspects of key consuming and manufacturing locations, including: the US, Mexico, China, South Korea, Japan, Taiwan, Great Britain, Germany, India, Hong Kong, Russia, South Africa, Indonesia, Brazil and others.

The Ocean Tomo private auction began May 18, 2018 and will end November 1, 2018, or sooner, as determined by Ocean Tomo. Interested bidders, contact Dean Becker at Dean@OTI.com or +1 251 333 8627

Independent evaluations on productivity and safety are available upon request, including results experienced by the US Army as well as a major global leader in independent testing demonstrating highly significant improvements in both productivity and health effects on users from using hand-to-work mechanics’ tools.

About Ocean Tomo

Ocean Tomo, the Intellectual Capital Merchant Banc™ firm provides companies with financial services related to intellectual property and intangible assets.

Collectively, Ocean Tomo professionals have:·     Executed over 1000 engagements involving IP worth more than $10 billion;
·     Successfully closed transactions where disruptive technology played a key role, with cumulative value in excess of $750 million;
·     Conducted over 300 valuation engagements and 500 financial damages expert testimony engagements.

Ocean Tomo assists clients – corporations, law firms, governments and institutional investors – in realizing Intellectual Capital Equity®value broadly defined. Reported by PRWeb 2 hours ago.

Hong Kong firm to buy 45 percent of Faraday Future

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Hong Kong firm to buy 45 percent of Faraday Future Remember Faraday Future? The cash-strapped electric car startup hasn't been in the headlines of late but it isn't dead yet. In fact, the company may have been thrown a lifeline in the form of a stake sale to Hong Kong firm Evergrande Health Industry Group, a subsidiary of property developer China Evergrande Group, which is looking to diversify... Reported by MotorAuthority 1 hour ago.

Third Annual Isagenix International Global Give Back Day Unites Customers and Employees in Volunteer and Donation Activities

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During Isagenix International’s third annual Global Give Back Day, activities ranged from cleaning mountains and beaches to volunteering with nonprofit organizations that help children, families, and the elderly who have health and financial hardships. In addition, Isagenix created a buy one, give one promotion that resulted in more than $100,000 in product donations.

GILBERT, Ariz. (PRWEB) June 28, 2018

Isagenix International, a global health and wellness company providing nutrition and lifestyle solutions, has once again united customers and employees in giving back to their local communities and the environment through volunteer and donation activities. During the company’s third annual Global Give Back Day, activities ranged from cleaning mountains and beaches to volunteering with nonprofit organizations that help children, families, and the elderly who have health and financial hardships. In addition, Isagenix created a buy one, give one promotion that resulted in more than $100,000 in product donations.

“It’s inspiring to see our customers and employees embrace this annual initiative and reflect our company’s core value of contribution,” said Erik Coover, Isagenix senior vice president of global field development and culture. “By pooling our time and resources, we can make a significant and positive impact on others and on our environment. I can’t wait to see what next year’s Global Give Back Day brings!”

This year’s activities took place May 19 in markets Isagenix serves, including the U.S., Australia, New Zealand, the U.K., Colombia, Singapore, Taiwan, and Hong Kong.

Among the Global Give Back Day participants were independent distributors who share the company’s health and wellness solutions and members of START, a popular Isagenix affinity group for customers ages 18 to 35 striving to lead extraordinary lives while helping others do the same.

For the special day’s activities in the U.S., employees from the Gilbert, Arizona, headquarters and START members visited Feed My Starving Children and packed 32,400 meals that will feed 88 children in the Philippines for a year. Isagenix donated $3,250 to cover the cost of the meals packed. The company also launched a buy one, give one promotion to provide great nutrition to those in need. For every box of Chocolate Coconut Almond dairy-free IsaLean™ Bars purchased wholesale in the U.S. (including Puerto Rico) and Canada between May 19 and 31, Isagenix donated one box of bars to a charitable organization. The 2,777 donated boxes had a retail value of approximately $122,000.

Highlights of Global Give Back Day activities in other Isagenix markets include:· Australia and New Zealand: Australia participants cleaned up plastic and microplastic litter along the coastline, while crews in New Zealand cleaned up beaches off their local coasts.
· U.K.: Participants cleaned up litter in a community park in Bristol, England.     
· Colombia: Participants visited Fundación Proyecto Unión, a foundation that supports homeless, abandoned children who have health issues. Volunteers played with the children and provided donations including books, easels, toys, and clothes.    
· Singapore: Participants teamed up with a local nonprofit, Willing Hearts, to prepare, pack, and distribute meals to over 5,000 beneficiaries in the community including the elderly, the disabled, poverty-stricken families, and migrant workers.    
· Taiwan and Hong Kong: Corporate teams organized mountain and beach cleanups. Nearly 65 people in Hong Kong picked up trash on the beach of an outlying island. About 20 joined a mountain cleanup in Taipei, while 49 independent distributors who were not local to the area or could not volunteer provided donations. Donations totaling NT$14,700 (US$495) were sent to Make-A-Wish® to help grant wishes to deserving children with critical illnesses.

Isagenix customers also engaged in small acts of kindness and service on their own, from picking up trash in their neighborhoods with their kids to inviting an elderly couple over for dinner.

“As our Global Give Back Day initiative illustrates, there are many ways to make a difference, whether you serve alongside others or on your own,” Coover said. “I hope this initiative encourages everyone to explore how they can make an impact on the world around them.”

To learn more about Isagenix, visit our newsroom at Isagenix.com, like us on Facebook at Facebook.com/Isagenix, and follow us on Twitter and Instagram at @Isagenix.

About Isagenix International
Established in 2002, Isagenix provides systems for weight wellness, energy, performance, healthy aging, and wealth creation. With nearly 600,000 customers worldwide and more than 100 life-changing products, packs, and systems globally, the company is committed to producing Solutions to Transform Lives™. Since its inception in 2002, Isagenix has generated $6 billion in cumulative global sales through a network of independent distributors in the U.S., Canada, Puerto Rico, Hong Kong, Australia, New Zealand, Taiwan, Mexico, Singapore, Malaysia, Colombia, Indonesia, the United Kingdom, Ireland, the Netherlands, Belgium, and Spain. Isagenix is a privately owned company with headquarters in Gilbert, Arizona. For more information, visit Isagenix.com. Reported by PRWeb 1 hour ago.

Review: PureVPN delivers on good online security, but not much else

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PureVPN
$69 (3-year plan)
View Product
The Good
Industry-standard security features • Simple to use • Works with torrenting
The Bad
Logs some of your information • Slow-to-average internet speeds • Bad chat support
The Bottom Line
PureVPN doesn’t really offer anything that sets them above their closest competitors. You’re probably better off with one of those.
Mashable Score3.0
Cool Factor3.0
Learning Curve4.0
Performance3.0
Bang for the Buck2.0

PureVPN was founded by GZ systems in 2006. It's located in Hong Kong. 

It promises to give you internet security, freedom, and warp-speed internet.  Read more...

More about Reviews, Vpn, Tech, Cybersecurity, and Consumer Tech Reported by Mashable 23 minutes ago.

SenseTime Debuts in Singapore by Signing Memoranda of Understanding with Local Giants NTU, NSCC and Singtel

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SenseTime Debuts in Singapore by Signing Memoranda of Understanding with Local Giants NTU, NSCC and Singtel SINGAPORE, June 29, 2018 /PRNewswire/ -- SenseTime, an industry-leading artificial intelligence (AI) company, signed memoranda of understanding (MOU) with three leading Singaporean organizations, namely Nanyang Technological University, Singapore (NTU Singapore), National Supercomputing Centre of Singapore (NSCC), and Singapore Telecommunications Limited (Singtel). The signing ceremony was held today at Singapore Economic Development Board (EDB), attended by SenseTime Founder Professor Xiao'ou Tang, Mr. Kiren Kumar, Assistant Managing Director of EDB, Mr. Peter Ho, Chairman of NSCC Steering Committee, Professor Lam Khin Yong, Vice President (Research) of NTU, and Mr. Arthur Lang, CEO of Singtel International. The parties aim to collaborate broadly, leveraging strengths and customer base of each other, to advance AI research, accelerate digitalization for both established corporates and SMEs, and develop AI-based solutions catering to industrial and institutional needs, both in Singapore and Asia.Witnessed by EDB, SenseTime signs MOU with NTU, NSCC and Singtel separately. From left: Mr. Hui Shen (SenseTime), Associate Professor Tan Tin Wee (NSCC), Professor Lam Khin Yong (NTU), Mr. Kiren Kumar (EDB), Mr. Bill Chan (Singtel), Professor Xiao’ou Tang, Mr. Peter Ho (NSCC), Mr. Arthur Lang (Singtel), Professor Louis Phee (NTU), Mr. Jeff Shi (SenseTime) and Mr. Martin Huang (SenseTime)

As Singapore has strong commitment in advancing AI research and applications, SenseTime views its footprint in Singapore a critical step to the company's international expansion. With the recent launch of the Singapore operations, SenseTime aims to join hands with government, academia, research, and industry. Martin Huang, Managing Director of SenseTime Singapore, described these MOU as a key milestone, "NTU, NSCC and Singtel are all leaders in their own areas; it is our honor to have the opportunity to partner with them all on AI research, development and applications. As Singapore serves as SenseTime's international hub, we're committed to building an AI ecosystem with our local partners and servicing our customers with leading AI technologies. We look forward to promoting the development of AI in the ASEAN region with their partnerships."

Professor Lam Khin Yong, Vice President (Research), NTU, said, "As one of the top universities in the world for artificial intelligence (AI) research, we are confident that our partnership with SenseTime to set up a joint research centre will lead to the development of cutting-edge technologies and skilled talents in the field of AI. This collaboration is also very timely as NTU seeks to become a Smart Campus - a living testbed for the technologies of tomorrow, in line with Singapore's drive to become a Smart Nation. Given NTU's and SenseTime's complementary strengths and expertise, we can look forward to innovative AI-based solutions for better living and learning, to benefit people, communities and businesses in Singapore and beyond."

NSCC's Chief Executive Associate Professor Tan Tin Wee expressed a similar level of enthusiasm. "As the largest provider of AI algorithms in China, SenseTime has been at the forefront of AI research. We are excited to work with SenseTime in the areas of research, development and industry adoption. With this partnership, we will build upon and extend NSCC's existing petascale distributed HPC infrastructure. We hope to achieve and bridge the HPC ecosystem by setting up a GPU-accelerated, AI-centric, supercomputing infrastructure and platform."

"This partnership and the recent investment in SenseTime by our corporate venture arm Singtel Innov8 speaks to our growing cooperation and commitment to innovation across the region," said Arthur Lang, CEO of International Group at Singtel. "We look forward to collaborating with SenseTime to grow our AI capabilities and drive the adoption of AI technology across Asia. Given the Singtel Group's regional footprint and digital eco-system, we see many opportunities to leverage AI -- from innovative retail technology solutions to smart city projects."

Mr. Kiren Kumar, Assistant Managing Director of Singapore EDB, witnessed the signing of the MOU. On behalf of EDB, he thanked SenseTime for choosing Singapore to base its international hub and R&D operations. He believes that SenseTime's presence in Singapore will be an invaluable addition to Singapore's growing AI ecosystem of private and public partners like Singtel, NTU and NSCC, among others.

The signing of these MOU is quite significant for SenseTime's Singapore operations as well as the company's international expansion. Spanning across a wide range of academia, industry and government agencies, these partnerships will likely play an important role in accelerating AI developments in Asia.

Last September, Singapore Prime Minister Lee Hsien Loong visited SenseTime's Beijing office and exchanged thoughts and ideas with SenseTime Founder Professor Xiao'ou Tang. He also experienced the company's AI technologies such as facial recognition and image recognition capabilities. SenseTime was the only company that PM Lee visited while he was in China. In April this year, SenseTime raised USD 600 million in its Series C round of financing, in which Singapore sovereign fund Temasek was one of the major investors.

*About SenseTime *

SenseTime is the world's most valuable artificial intelligence (AI) unicorn focused on computer vision and deep learning technologies. Its leading AI technologies have empowered many industries such as smart city, smartphone, mobile Internet, automobile, finance, retail, and robotics. Its core technologies include face recognition, image recognition, character recognition, medical image recognition, video analysis and autonomous driving.

SenseTime boasts more than 700 leading strategic partners and customers including MIT, CUHK, Qualcomm, NVIDIA, Honda, Alibaba, Suning, China Mobile, UnionPay, Wanda, HNA, Huawei, Xiaomi, OPPO, vivo, Weibo, iFLYTEK, and so forth.

In May 2018, SenseTime raised US$620 million in its series C+ round of funding. As of May 2018, the company had raised a total of US$1.6 billion in financing and is valued over US$4.5 billion. The company has offices in Hong Kong, Beijing, Shenzhen, Shanghai, Chengdu, Hangzhou, Kyoto, Tokyo and Singapore.

Photo - https://photos.prnasia.com/prnh/20180629/2176949-1 Reported by PR Newswire Asia 11 hours ago.

Sharing Economy International to Establish New Film and Media Production Business

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Sharing Economy International to Establish New Film and Media Production Business -*Signs Exclusivity Agreement With South Korean TV Drama and Film Production Company Jidam, Leases Workspaces From Hong Kong-based Shaw Studios *

HONG KONG, June 29, 2018 /PRNewswire/ -- Sharing Economy International Inc. ("SEII" or "the Company") (NASDAQ: SEII) today announced its plans to establish a new film and media production business. In connection with this new business initiative, SEII's wholly-owned subsidiary, EC Creative Limited ("EC Creative"), signed an exclusivity agreement with Jidam Co., Ltd. ("Jidam"), regarding the potential acquisition by EC Creative of not less than 51% of the issued share capital of Jidam and further business cooperation agreements between EC Creative and Jidam.

In addition to the agreement with Jidam, SEII's wholly-owned subsidiary, Sharing Film International Limited ("Sharing Film"), will lease workspaces totaling about 24,000 square feet in Shaw Studios, which is currently owned by Shaw Movie City Hong Kong Limited ("Shaw Movie City"). The initial lease term will be for one year, commencing November 1^st 2018. SEII will issue new shares to Shaw Movie City to pay the up-front amounts due for rent, management fee and deposit on the spaces. SEII plans to utilize these spaces to explore and develop its film and media production and post-production business and to develop a sharing environment for the film and media production industry.

Jidam was established in South Korea in 2005. Its main business consists of the production of TV content (drama, education, entertainment) and movies. Their TV series are highly welcomed by general audiences. At least six of its drama series ranked first during their broadcast period.

Shaw Studios features one of the largest, fully air-conditioned and sound and vibration-insulated soundstages in Asia, a full-service color lab and digital imaging facility, over 20 sound and edit suites, a 400-seat dubbing screening theatre, executive and production office space, and visual effects and animation capabilities. In all, it has over a million square feet of digitally-wired and secure facilities dedicated solely to film production and post-production. Shaw Studios is the late Hong Kong film tycoon Sir Run Run Shaw's commitment to filmmakers in Hong Kong and the entire world.

"Our cooperation with the successful South Korean TV drama and film production company Jidam is the first step in establishing our new film and media business unit, which we will be run out of our newly leased space in Shaw Studios' state-of-the-art facilities in Hong Kong," said Parkson Yip, Vice President of SEII. "We are very determined to express and share our mission of the sharing economy and related advanced technology developments with global communities. Because the sharing economy is still a very new idea to most people in our communities, our plan is to create more multimedia marketing channels to educate audiences of different cultures and backgrounds. Part of our media strategy is to integrate our concepts of the sharing economy and advanced technologies into commercial dramatic films and movie productions which can more easily convey these concepts and messages to a general audience. We look forward to leveraging Jidam's expertise to produce eye-catching film content and believe our relationship with Shaw Studios provides a strong mechanism to deliver our messages in a simple and straight-forward way. Consistent with our commitment to the sharing economy, we also intend to share our facilities in Shaw Studios with other film and media partners, as well as educational institutions."

*About Sharing Economy International Inc.*

Sharing Economy International Inc., through its affiliated companies, designs, manufactures and distributes a line of proprietary high and low temperature dyeing and finishing machinery to the textile industry. The Company's latest business initiatives are focused on targeting the technology and global sharing economy markets, by developing online platforms and rental business partnerships that will drive the global development of sharing through economical rental business models. Moreover, the Company will actively pursue blockchain technology in its existing and to-be-acquired business, enabling the general public to realize the beauty of resource sharing. For more information visit www.seii.com

*About Jidam Co., Ltd.*

Jidam Co., Ltd. was established in South Korea in 2005. Its main business consists of the production of TV content (drama, education, entertainment) and movies. Their TV series are highly welcomed by general audiences. At least six of its drama series ranked first during their broadcast period. For more information visit www.jidam.co.kr

*About The Shaw Movie City, Hong Kong*

The new millennium has brought a new era to the legendary Chinese film empire Shaw Brothers. They have formed the Shaw Movie City, and, within it, the world's most advanced film production and digital post-production facility located in Tseung Kwan O, Hong Kong. The US$180 million Shaw Studios features one of the largest, fully air-conditioned and sound and vibration-insulated soundstages in Asia, a full-service color lab and digital imaging facility, over 20 sound and editing suites, a 400-seat dubbing and screening theatre, executive and production office space, banquet hall facilities, and visual effects and animation capabilities. In all, over a million square feet of digitally-wired and secure facilities dedicated solely to film production and post-production. Shaw Studios is Sir Run Run Shaw's commitment to filmmakers in Hong Kong and the entire world.

*Safe Harbor Statement*

This release contains certain "forward-looking statements" relating to the business of the Company and its subsidiaries and affiliated companies and certain potential transactions that they may enter into. These forward-looking statements are often identified by the use of forward looking terminology such as "believes,""expects" or similar expressions. Such forward looking statements involve known and unknown risks and uncertainties that may cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website, including factors described in "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in our Form 10-K for the year ended December 31, 2017 and in our Form 10-Q for the quarter ended March 31, 2018. All forward-looking statements attributable to the Company or to persons acting on its behalf are expressly qualified in their entirety by these factors other than as required under the securities laws. The Company does not assume a duty to update these forward-looking statements.

View original content:http://www.prnewswire.com/news-releases/sharing-economy-international-to-establish-new-film-and-media-production-business-300674564.html Reported by PR Newswire Asia 11 hours ago.

Xiaomi's shrinking IPO shows tougher climate for China tech

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Xiaomi's big Hong Kong IPO is shrinking. Reported by CNNMoney 11 hours ago.

China's Xiaomi raises $4.72 billion after pricing Hong Kong IPO at bottom of range - sources

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HONG KONG (Reuters/IFR) - China's Xiaomi Corp priced its Hong Kong initial public offering (IPO) at the bottom of an indicative range, raising $4.72 billion in the world's biggest tech float in four years, people close to the transaction said on Friday. Reported by Reuters India 11 hours ago.

Hong Kong gears up for annual protest as leader marks first year in office

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HONG KONG (Reuters) - Hong Kong will on Sunday mark the 21st anniversary of its return to Chinese rule, with city leader Carrie Lam struggling to win over residents even as she receives praise from Beijing. Reported by Reuters India 10 hours ago.

Cheaper flats for young couples and families in Hong Kong among 6 new proposals to tackle housing crisis

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Young couples and families in Hong Kong can now bid for cheaper subsidised flats at a discount of nearly 50 per cent, compared to the current 30 per cent rate, as part of a basket of new housing initiatives announced by the city’s Chief Executive Carrie Lam Cheng Yuet-ngor on Friday. “Hong Kong people can be more reassured now, they don’t need to be bothered by the price increase of private flats,” Lam said, flanked by Financial Secretary Paul Chan Mo-po, housing... Reported by S.China Morning Post 10 hours ago.

Klook Notifies Customers of Potential Third-Party Data Breach Incident

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HONG KONG, June 29, 2018 /PRNewswire/ -- Klook has become aware that certain customer information may have been accessed without authorisation, as a result of a malicious JavaScript code associated with a third-party web-based analytics tool, SOCIAPlus (the "third-party provider"), which Klook used on its website. Immediately upon discovering it, Klook has disabled the feature to protect our customers, and is actively conducting an investigation alongside an independent forensics company. Upon enquiry, Klook received confirmation from the third-party provider that the source of the data breach was a single piece of JavaScript code that was infected.

The incident resulted in the possible compromise of personal data and credit card information provided by customers. Transactions made on the Klook website between December 11, 2017 to June 13, 2018 may have been impacted, and those made via the Klook mobile app (both iOS and Android) were not. While investigations are ongoing and Klook is working to categorically exclude customers from risk, Klook estimates that approximately 8% of users may have been affected. Klook has actively reached out to notify potentially impacted customers.

In addition, Klook has completed a primary investigation with Kroll, a global leader in cyber security and forensics investigation. Since the removal of the JavaScript, there is no indication of data loss. Klook and the third-party provider are cooperating to continue with further investigations on this incident. The third-party provider claims it is confident that this was an isolated incident, and that the vulnerability occurred due to a specific custom implementation conducted by the third-party provider.

Klook takes data security and the handling of customer information very seriously. The company's first priority is to protect its customers' interests and has hence decided to take swift and proactive actions to address the issue:

· Klook has notified the relevant regulatory authorities
· Klook will be reviewing its existing cyber security protocols regularly, and will also implement even stricter review processes for materials from third-party providers
· Klook will continue investigations with Kroll to determine more facts surrounding this incident

The company has put all appropriate resources behind these efforts to maintain a safe environment for customers to enjoy Klook's services.

Further updates will be provided at https://www.klook.com/news/announcement.

The following dedicated channels for concerned parties have been set up:

· For customer enquiry on this incident: privacy@klook.com  
· For corporate partners and affiliates: partnership@klook.com  
· For media: press@klook.com Reported by PR Newswire Asia 10 hours ago.

PNB fraud: Hong Kong banking regulator cracks down on Indian lenders operating in the SAR over suspected irregularities

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Barring the SBI and a private bank, almost all Indian banks in Hong Kong have been subjected to a review and supervisory measures by the Hong Kong Monetary Authority (HKMA) Reported by Firstpost 11 hours ago.

Topping Out of Office Tower 2 at Center 66 in Wuxi

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Topping Out of Office Tower 2 at Center 66 in Wuxi HONG KONG, June 29, 2018 /PRNewswire/ -- Center 66, Hang Lung Properties' commercial complex in Wuxi in Jiangsu Province, held a Topping Out Ceremony today for its second Office Tower. The Ceremony was hosted by Hang Lung's Chief Executive Officer Designate Mr. Weber Lo; Chief Financial Officer Mr. H.C. Ho; and Executive Director Mr. Adriel Chan. Mr. Lu Zhijian, Deputy Mayor of the Wuxi Municipal Party Committee; Mr. Jiang Weijian, Vice Chairman of the Wuxi Municipal Committee under the CPPCC and Mr. Qin Yongxin, Deputy Secretary of the CPC Liangxi District Committee of Wuxi and Governor of Liangxi District also officiated the ceremony and bore witness to Hang Lung's momentous achievement in Wuxi.Officiators (from right): Mr. Lu Zhijian (10th), Deputy Mayor of the Wuxi Municipal Party Committee; Mr. Jiang Weijian (8th), Vice Chairman of the Wuxi Municipal Committee under the CPPCC; Mr. Qin Yongxin (7th), Deputy Secretary of the CPC Liangxi District Committee of Wuxi and Governor of Liangxi District; and Mr. Wang Xing (5th), Director of Wuxi Municipal Bureau of Commerce; Hang Lung’s CEO Designate Mr. Weber Lo (9th); CFO Mr. H.C. Ho (6th) and Executive Director Mr. Adriel Chan (11th).

At the ceremony, Mr. Weber Lo, Chief Executive Officer Designate of Hang Lung Properties, said, "Hang Lung remains confident in the prospects of the retail and commercial sectors, and pays special attention to investing in the Yangtze River Delta region. Since its opening five years ago, Center 66 has injected a new concept into the city's retail landscape. The mall has now claimed a leading position in Wuxi's retail market, half of the international brands in the mall are making their debut in Wuxi and they are all favored by high-end consumers. The first Office Tower has attracted numerous multinational corporations and top Mainland companies, proving that Center 66 has already become an iconic landmark in Wuxi."

"Hang Lung sees great potential in Wuxi. As the first phase matures and with the second phase now being planned, I firmly believe Center 66 will contribute further to the commercial value of Wuxi's core business district and spur the city's economy and society to continued growth and prosperity," Mr. Lo added.The officiating guests host the Topping Out Ceremony of Center 66's Office Tower 2.

In May, Hang Lung successfully acquired a prime plot of land in Hangzhou, which becomes the Company's third point of development in the Yangtze River Delta region after Shanghai and Wuxi. Given Wuxi's key location in region, Center 66 will create strong synergy with Hang Lung's flagship projects in Shanghai - Plaza 66 and Grand Gateway 66 - and with the forthcoming project in Hangzhou, thereby advancing the region's development and raising it to new heights.

Construction of Center 66's Office Tower 2 is progressing well, and completion is expected in the second quarter of 2019. Office Tower 2 will link directly to the mall, whose outstanding features are to include the renowned Premiere Cinemas movie theater. This enhancement further diversifies the complex's tenant mix, and is expected to attract additional customers and heighten the overall ambience of the complex.

Center 66 achieved a favorable performance in 2017 as a result of Wuxi's economic growth. The mall has an appealing tenant mix marked by the combined presence of such renowned international brands as Prada, Miu Miu, Salvatore Ferragamo and Ermenegildo Zegna, among others. Office Tower 1 has likewise secured for itself a prominent position in Wuxi's office market. With the impending completion of Office Tower 2, together with the unceasing improvement of the complex's offerings and services, Center 66 is destined to continue developing as a notable city landmark and a truly diversified, high-end commercial complex.Construction of Center 66's Office Tower 2 is progressing as planned with completion expected in the second quarter of 2019.

*About Hang Lung Properties *

Hang Lung Properties Limited (stock code: 00101), a constituent stock of the Hang Seng Index and Hang Seng Corporate Sustainability Indices in Hong Kong, and the Dow Jones Sustainability Asia Pacific Index since 2017, is a leading real estate developer operating in Hong Kong and mainland China. Boasting a diversified portfolio of investment properties in Hong Kong, the Company has progressively branched out into the Mainland since the 1990s, with our distinctive footprint now fully established in Shanghai, Shenyang, Jinan, Wuxi, Tianjin, Dalian, Kunming, and Wuhan, with all the Mainland projects carrying the "66" brand. In May 2018, Hang Lung won an auction for a prime plot of land in Hangzhou, marking the Company's expansion to the ninth Mainland city. As Hang Lung's business continues to grow, the Company is set to develop into a highly admired national commercial property developer in China.

*About Center 66*

Center 66 was established in Wuxi in 2013 with the first phase comprising a shopping mall and two office towers. With the mall and the first office tower complete and the second under construction, the next phase of the project is now in the planning stage. When both phases are complete, the gross floor area of the complex will be 370,800 square meters.

The project is located in the most prosperous area of Wuxi's commercial district: the intersection of Zhongshan Lu and Renmin Zhong Lu in Liangxi District. An indoor walkway connects the complex to the city's Metro Lines 1 and 2. The complex hosts more than 200 top-quality retail stores, including a wide variety of high-end international brands. Center 66 also includes an enticing range of dining and leisure facilities, creating a new one-stop experience for the citizens of Wuxi. Since its completion in 2014, the 52-story Office Tower 1 has become the location of choice for numerous multinational corporations including UBS, Shiseido, Huawei, AIA and China Minsheng Bank, among others.

Center 66 is dedicated to becoming an outstanding landmark of Wuxi, one that is fully integrated into the surrounding environment and in total harmony with the city's historical legacy. With heritage in mind, the project has preserved a 600-year-old temple dating from the Ming Dynasty and has restored three sections of the building, seamlessly blending business with culture.

The outstanding design and excellent business strategy of Center 66 was recognized with two honors in the 2012 Asia Pacific Property Awards. They are the "Best Mixed-use Architecture in Asia Pacific" title and the "Five-star Best Mixed-use Architecture in China" award. At the same time, Center 66 has become an Employer of Choice in the market. It was awarded the "Best Companies to Work for in Asia 2017" title by HR Asia, the authoritative publication of human resource professionals in Asia.

Photo - https://photos.prnasia.com/prnh/20180629/2176969-1-a  
Photo - https://photos.prnasia.com/prnh/20180629/2176969-1-b  
Photo - https://photos.prnasia.com/prnh/20180629/2176969-1-c Reported by PR Newswire Asia 10 hours ago.

Body of suspected newborn girl found at refuse collection centre in Hong Kong public housing estate

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The body of a suspected newborn baby girl was found at a rubbish collection centre on the ground floor of a public housing block in Hong Kong on Friday. Police in Tuen Mun were called to the refuse collection centre at Oi Lai House in Yau Oi Estate after receiving a report from a man at 5.41pm. “Initial information showed the baby’s body and placenta were in a plastic bag that was found in a rubbish collection cart,” a police source said. He said detectives from Tuen Mun... Reported by S.China Morning Post 10 hours ago.

Hong Kong fails to overtake Shenzhen as China’s most competitive city for fourth consecutive year

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Hong Kong was ranked behind Shenzhen as China’s second most competitive city for the fourth year in a row, as the nation’s foremost think tank urged the former colony to better support innovation and attract new talent. Professor Ni Pengfei, director of the Chinese Academy of Social Sciences’ centre for city and competitiveness, on Friday also identified high living costs, social conflicts and the city’s reliance on financial industries as key weaknesses. “Its... Reported by S.China Morning Post 10 hours ago.

PwC Hong Kong signs investment agreement with biotech and internet platform company Vitargent

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PwC Hong Kong signs investment agreement with biotech and internet platform company Vitargent Stronger alliance will forge better future for food safety
HONG KONG, June 29, 2018 /PRNewswire/ -- PwC Hong Kong ("PwC") has entered into an investment agreement today with Vitargent International Holdings Limited ("Vitargent"), a pioneer in bio-testing technology for product safety. This is PwC's first proposed investment in the biotechnology and internet platform space, bringing together the strengths of PwC and Vitargent to address evolving challenges in food and consumer product safety across Greater China and beyond.PwC has entered into an investment agreement today with biotech and internet platform company Vitargent.

Raymund Chao, PwC Asia Pacific and Greater China Chairman, and Jimmy Tao, Chief Executive Officer, Vitargent, officiated at a signing ceremony held in Hong Kong today.

Vitargent is an award-winning biotechnology company specialising in product safety testing with its pioneering fish-embryo based toxicity testing technology. Backed by 10+ institutional investors and with input from its Scientific Advisory Board comprising experts from across the globe, Vitargent's technology is serving 50+ leading companies and organisations including governments, research institutes, testing laboratories, major international skincare and cosmetics companies, food manufacturers and catering groups around the world.

Since forming a strategic alliance earlier this year in February, PwC and Vitargent have worked collaboratively to build a professional team of over 30 experts, actively providing a holistic one-stop solution to food manufacturers and suppliers to improve their quality of products and giving accreditation to companies that offer excellent quality. Vitargent also issues Test-it™ reports and safe-to-buy product lists to the public with PwC as a strategic partner providing professional services and a foundation for public trust across our markets. Our combined expertise brings these product safety resources to market equipping the public with better knowledge to make safer choices, and serving as an important tool for consumers to gain trust in brands and manufacturers.

Raymund Chao says, "We are delighted to establish a deeper relationship with Vitargent, whose innovative testing solutions complement PwC's professional capabilities to tackle longstanding challenges in food integrity. This investment agreement is a significant step in furthering PwC's purpose of solving important problems and building trust in society. By staying at the forefront of food safety innovations, PwC aims to reinforce our end-to-end services to help clients strengthen their competitive advantage, enhance consumer confidence and protect and enhance their reputation. Looking ahead, we are ready to deliver greater value to the food and consumer markets, with a focus on driving commercial growth while balancing that with consumer trust and regulatory concerns. Together, we can work towards building a safer and more sustainable future in food and other consumer products."

Jimmy Tao says, "We are pleased to have PwC's support in solving food safety issues and enhancing public trust in food supply. Food safety measures must be prioritised, in view of the global food safety violations and recalls of food in supply over the last decade. We will work closely to ensure food manufacturers and suppliers, across Greater China and beyond, will benefit from Vitargent's advanced bio-toxicity testing technology, which provides early warnings to unsafe products and helps avoid potentially disastrous consequences. By sharing our industrial experience and expertise, we are setting a safety standard that is beyond regulatory requirements. We are building the world's largest database of bio-data for consumer products that will add value to business and instil confidence to consumers and other stakeholders."*
*

*Notes to Editors*

*About Vitargent*

With nearly 15 years of biotechnology research and development and achievement by the co-founders, Vitargent commercialised the technology in 2010 with the vision of "Smarter Testing, Safer Products, Better World". We are a pioneer in the field of applying fish embryo-based toxicity testing technology to ensure product safety. We are the proud winners of the Grand Prix at the International Exhibition of Inventions of Geneva (2015). We are backed by 10+ institutional investors. With hands-on guidance from our world-renowned Scientific and Business Advisory Boards, we combine technological expertise with social responsibility. We aid manufacturers to improve product safety and enhance consumers' confidence in making safer purchases. We have served over 50+ top-notch testing organisations, governments, research institutes, major international skincare and cosmetics companies and catering groups around the world. With the firm support of these entities, we are working towards incorporating the technology into regional and international safety standards.

*About Test-it™*

Test-it™ is the consumer information product safety platform under Vitargent, the world's first with Testing 2.0 bio-testing technology. It provides information for consumers to access in everyday lives. Find out more by visiting us at www.fishqc.com.

*About PwC*

At PwC, our purpose is to build trust in society and solve important problems. We are a network of firms in 158 countries with more than 236,000 people who are committed to delivering quality in assurance, advisory and tax services. In China, including Hong Kong, we have over 18,000 people and are located in 23 cities.

Consumer confidence around food safety is a very significant societal concern, China's food sector is evolving rapidly. PwC's Food Supply & Integrity Services combine food industry expertise with our capabilities in risk management, internal controls, supply chain, strategy, compliance, capital markets and M&A to help our clients achieve lasting success. Our services enable a variety of clients to deliver safe, quality food while building growing and profitable businesses.*  *

*Media Contact:*

Wing Kwong, Vitargent
Email: *wing.kwong@vitargent.com*

View original content with multimedia:http://www.prnewswire.com/news-releases/pwc-hong-kong-signs-investment-agreement-with-biotech-and-internet-platform-company-vitargent-300674605.html Reported by PR Newswire Asia 9 hours ago.

Capillus Announces Grand Opening of the First Capillus Store in Hong Kong

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With a continued focus on growth underlined by global expansion, Capillus exclusive distributor, Yaniv Healthcare, new store opening strengthens its presence in the Chinese markets.

MIAMI (PRWEB) June 29, 2018

Capillus®, LLC, a medical device manufacturer focused on providing customers with the best products in treatment for hair loss, has expanded its global footprint with the opening of the Capillus store at the Mira Place Mall in Hong Kong through its exclusive partnership with Yaniv Healthcare. Capillus established a presence in the Chinese market in 2013. Following great partnership growth, Yaniv Healthcare became the exclusive Capillus Hong Kong distributor in 2017. This new store expansion with Yaniv Healthcare will target the diverse flourishing Chinese markets and aims to cater to the people of Hong Kong with the best in hair restoration technology and advances.

Expressing excitement over the expansion, Carlos Piña, Capillus CEO said, “I believe our target customers are universal. Whether in Hong Kong or in the United States, anyone who cares about their appearance and the role it plays in their self-esteem or how others view them in society will benefit from Capillus products. Hair loss can be devastating psychologically. Our goal is to reach those for whom hair loss is a concern before it becomes an irreversible condition.”

The new store is in the posh Mira Place Mall in Kowloon. Complete with shopping malls, Grade A office space, a five-star hotel, it’s conveniently located at the popular area of Tsim Sha Tsui. With an area of about 2,000,000 square feet, and home to more than 150 upscale retail stores, 40 restaurants, and cafés, including Michelin-starred and recommended eateries, Mira Place is the ideal place to shop, dine, work and refresh.

To market the opening of the Hong Kong store, Yaniv Healthcare hosted a grand opening event on June 2nd, attended by Agnes Cho of Yaniv Healthcare, actress Akina Hong, singer Raymond Cho, along with Capillus CEO, Carlos Piña, and Director of International Distribution, Lisa Weaver.

“We are very proud of our commercial venture with Yaniv Healthcare and are looking forward to further expansion into the Chinese market through our partnership,” Piña said.

Yaniv Healthcare focuses on introducing the home use of beauty and health care electronic appliances for specific needs to the human body. The Hong Kong Capillus store offers the Cap+ clinical hair care products, and three FDA cleared Capillus laser cap models. Capillus offers a value model in the Capillus82™ which includes 82 laser diodes, a mid-range device with the Capillus202™ containing 202 laser diodes as well as a premium Capillus 272™ Pro device with 272 laser diodes.

Customers can visit the Capillus Mira Place Mall store at B133, Mira Place 1, 132 Nathan Road, Tsim Sha Tsui, in Kowloon.

The Hong Kong grand opening also celebrated the opening of the Capillus Mong Kok Medical Clinic located at 700 Medical Center, Shop 904, 9/F, 700 Nathan Road, Mongkok, Hong Kong. This clinic will focus solely on hair restoration and will conduct the latest in hair transplantation surgeries and treatment offerings.

About Capillus, LLC

Capillus, LLC offers prescription and over-the-counter hair regrowth products and medical devices for both men and women suffering from hair loss. The Capillus premier product lines include low-level laser therapy (LLLT) devices that are FDA-cleared and manufactured in the US under the highest-quality certification standard for the medical device industry (ISO13485). Capillus also offers additional non-prescription clinical hair products for hair and scalp health. Capillus products are available directly to the public for at-home use and also to their network of physicians for office use. For more information, visit https://www.Capillus.com. Reported by PRWeb 9 hours ago.

China's ZTE shakes up board in bid for U.S. ban lift

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SHENZHEN, China/HONG KONG (Reuters) - Chinese telecoms giant ZTE Corp announced a new board on Friday in a radical management shakeup as part of a $1.4 billion deal with the United States, moving it closer toward getting a devastating American supplier ban lifted. Reported by Reuters 8 hours ago.
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